Forex: USD/JPY with dissipating upmove after BoJ

FXstreet.com (Barcelona) - As the USDJPY takes a beating after the BoJ monetary policy decision to expand its asset purchase fund by¥10tn to¥76tn, as expected by investors, the market printed a low at 83.86 and stays close to those levels ahead of the European opening.

Importanto is also the central bank's will to "examine" its inflation goal at its next policy meeting, in a nod to PM-elect's Abe. The USDJPY had grown to 84.62 high on yesterday's trading, but risk-off movements on deteriorating US "fiscal cliff" negotiations plunged the market.

"We would allow for the possibility of a 'return to point of break out at circa 83.04/82.84, provided this holds the downside the market will remain immediately bid", Jones added, pointing to 80.65 in case of failure there